Tweet Bloomberg News has a follow-up article here on last week’s story of how wealthy immigrants from China and Hong Kong use alleged money-laundering services offered by the Bank of China Ltd. to transfer funds to Canada and the US. Last week, China Central Television broadcast a story alleging that the Bank of China offered a money […]
Tweet According to a report in the South China Morning Post here, the state television news organization of China, CCTV, has accused the Bank of China of offering a money laundering service to wealthy people in China to facilitate the removal of funds from China for immigration purposes in violation of the country’s currency restriction […]
Tweet According to this article in the Wall Street Journal, the IRS and the government of China are negotiating an agreement whereby the US would provide financial information to the government of China on Chinese foreign nationals living in the US. The information provided to China will likely include asset, financial, corporate and personal information […]
Tweet Removal of Foreign Nationals & Asset Recovery According to several news reports, such as the one here, the government of China is in discussions with the US government (and firms) regarding the process to deport or extradict former Chinese nationals believed to have immigrated with billions of dollars in proceeds of crime from corruption. […]
Tweet Our interview on a podcast with the Association of Certified Crime Specialists regarding the criminal investigation into Brazilian soccer coach Luiz Scolari by Portuguese authorities for money laundering arising from tax fraud. “The head coach of Brazil’s national soccer team has one more thing to worry about before the World Cup held in his […]
Tweet Ukrainian Crisis Late last week, the Swiss announced investigations into funds allegedly held in their banks by former President Viktor Yanukovych and his son Oleksandr Yanukovych, and have frozen those assets while they determine if any of the assets are proceeds of crime derived from corruption, misappropriated state assets, or derived from other predicate offenses […]
Tweet According to a report published in China by the Central Bank (that has since been removed from the Bank of China’s website) and reported by the BBC, close to 20,000 public officials in China have collectively removed about US$120 billion from China and transferred it to just 4 countries –> Canada, the US, Australia […]
Tweet $485 Million Laundered to Vancouver and Elsewhere In a fascinating series of judgments from Hong Kong, six wealthy immigrants to Vancouver from China, who laundered over US$485 million through casinos in Macau and Las Vegas, and banks in Canada and Hong Kong, were ordered to repay stolen funds to the Bank of China. The […]